Tax breaks for business to help make loans available for business - governor

YEKATERINBURG, December 12. /ITAR-TASS/. Tax breaks will help make loans better available for business in the Sverdlovsk region, Russia’s Urals, governor Yevgeny Kuivashev told Itar-Tass after the president’s annual state-of-the-nation address on Thursday.

“We have started to implement some serious infrastructure projects and to build industrial and technoparks in the Sverdlovsk region,” he said. “All these programmes require organizational and financial efforts, therefore tax breaks and compensation of funds spent on the development of technoparks are huge support. Moreover, these measures will help us attract necessary credit resources for fulfilling these tasks.”

Vladimir Putin called on regional authorities to introduce two-year tax breaks for emerging small business. “All regions can adopt two-year tax breaks for all new small business companies,” he said, adding that regions’ expenditures for the creation of industrial parks would be compensated from the federal taxes.